What happens if a lease is not signed by the deadline for a Degree Wellness franchise?
Degree_Wellness Franchise · 2025 FDDAnswer from 2025 FDD Document
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- If we require, approve the terms of the lease for the premises of your Studio (Franchise Agreement – Section 3.1). You must lease the premises for the Studio within 180 days after signing the Franchise Agreement. We may terminate your Franchise Agreement if you do not sign your lease by this deadline. Generally, we do not own premises that are leased to Studios. Your lease must include the provisions required by the Franchise Agreement, or you must obtain our express written approval as to any variations or exclusions of such provisions in your lease.
Source: Item 11 — Franchisor's Assistance, Advertising, Computer Systems, and Training (FDD pages 32–42)
What This Means (2025 FDD)
According to Degree Wellness's 2025 Franchise Disclosure Document, a prospective franchisee must lease the premises for their studio within 180 days of signing the Franchise Agreement. If the franchisee fails to sign the lease by this deadline, Degree Wellness has the right to terminate the Franchise Agreement.
Degree Wellness generally does not own the premises that are leased to franchisees. The lease agreement must include specific provisions required by the Franchise Agreement. If there are any variations or exclusions to these required provisions, the franchisee must obtain express written approval from Degree Wellness.
This stipulation is important for potential Degree Wellness franchisees to consider, as failure to secure a lease within the specified timeframe could lead to termination of the agreement and potential loss of the initial franchise fee. Franchisees should work diligently to find a suitable location and negotiate lease terms that meet Degree Wellness's requirements within the given timeframe.